DETAILED OCCUPATION DATA
13-2053 Insurance Underwriters
Occupational Description:Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
|Geography||Employment||Emp SE*||Mean||Mean SE*||10th||25th||Median||75th||90th|
|*SE = Standard error, a measure of the statistical reliability of the estimate.|
(click title for details)
|Employment||Median Wage||% Change -|
|Claims Adjusters, Examiners, and Investigators||90||$23.66/hr||N/A|
|Appraisers and Assessors of Real Estate||50||$21.88/hr||N/A|
Tasks for Insurance Underwriters
- Examines documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
- Writes to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
- Declines excessive risks.
- Authorizes reinsurance of policy when risk is high.
- Reviews company records to determine amount of insurance in force on single risk or group of closely related risks.
- Decreases value of policy when risk is substandard and specifies applicable endorsements or applies rating to ensure safe profitable distribution of risks, using reference materials.
- Evaluates possibility of losses due to catastrophe or excessive insurance.